Symphonya. Emerging Issues in Management

Ouverture de ‘Wine Global Competition. Emerging Issues’

Mario Risso — 2025-12-19

The global wine market is undergoing a profound transformation, after years of stable behavior that, however, heralded the perfect storm unleashed in recent years. For a careful observer, the seeds of change have been there for many years, as the contributions collected in this volume demonstrate. The authors present the evolution of supply, demand, and trade in international wine markets for each of the main wine-producing countries — the United States, Australia, Spain, France, and Italy — and analyze the causes of this change and potential economic intervention policies.

An Italian Perspectives on the Wine Market Crisis

Davide N.V. Gaeta — 2025-12-19

Despite the fact that global consumption today is higher than it was in the mid-1990s, it has remained stagnant since 2010, coinciding with the Great Financial Crisis, and then recently declined further. From an Italian perspective, it is critical to understand the reasons that have influenced demand, what the threats and opportunities are, and when and how the wine market will rise again as the cycle recovers.

This study describes the recent dynamics of the Italian wine system's supply and demand and highlights the system's critical issues also in relation to the latest changes in the international wine markets. It also discusses some possible public economic policy interventions to stimulate recovery and effective actions that the Italian wine industry could implement to respond to the contraction of demand and the reduction of contribution margins on sales.

Understanding the Current World Wine Consumption Crisis: Cyclical Analysis and Strategic Perspectives

Jean-Marie Cardebat — 2025-12-19

Global wine consumption has been experiencing a significant dip since 2017, provoking marked pessimism in the sector. This article proposes a three-stage reading of this crisis: a historical perspective based on cycle theory, an econometric analysis of cyclical determinants, and a strategic prospective on the future consumption regime. The article defends the idea of a medium-term rebound (from 2027), and identifies the strategic levers of action needed to respond to it.

Dynamics and Strategies of Spanish Wine Exports in a Globalised Market

Vicente Pinilla — 2025-12-19

This article analyses the trajectory of Spanish wine exports, explaining, first, their historical background and then their dynamics in recent decades within a highly globalised market. Subsequently, it describes the macro factors that explain the high growth of these exports, such as the incorporation of technological innovations, access to the European Union, the expansion of the protected designation of origin and the reinforcement of their quality control and the fall in wine consumption in Spain. Finally, the business strategies that have largely fostered the export boom are analysed.

Australian Experience and Perspectives on the Wine Market Crisis

Kym Anderson — 2025-12-19

Over the past four decades, all annual indicators of the Australian wine industry’s international competitiveness have traced a steep inverted V. This paper contrasts such indicators with those of other key wine-exporting countries. A series of partial explanations for the industry’s sharp rise and then equally steep fall in its international competitiveness (and its several bumps along the way) are then provided. The New Zealand and Californian wine industry’s prolonged expansions in particular are contrasted with Australia’s. Despite the current downturn in the industry’s fortunes, and notwithstanding the likelihood of further boom-slump cycles in the decades ahead, a return to profitability is possible, but it is likely to require vignerons and wine exporters to raise their current rates of investments in R&D, quality improvements and promotion.

U.S. Experience in and Perspectives on the Worldwide Wine Market “Crisis”

Julian M. Alston — 2025-12-19

of the U.S. wine industry, focusing on California. Among countries, the United States is the world’s fourth-largest producer of wine, and the largest consumer and importer. The wine industry is located primarily on the U.S. west coast, and California alone accounts for more than four-fifths of production. Growth in population and income and shifting preferences for different types of alcoholic beverages have been driving evolving per capita demand and hence changes in production, markets, and imports in this vibrant sector of the U.S. economy. In recent years, the U.S. wine and winegrape industry has been coping with stresses from difficult vintages and abrupt policy shifts, on top of the shrinking demand and depressed markets that have affected producers worldwide. The market-driven pressures are more pronounced in the lower-priced segments. The industry is adjusting without the benefit of any substantial assistance from national or state governments to reduce the structural surplus and restore market balance. We illustrate these patterns using detailed data on California’s wine grape industry.